Washington, D.C.-based venture capital firm Zeal Capital Partners has announced the successful close of its second fund, Zeal Fund II, raising an impressive $82 million. This milestone marks a significant expansion for the firm, more than tripling its assets under management to $186 million in just five years. Known for backing innovative startups like the Black-led unicorn Esusu, Zeal Capital Partners is poised to drive transformative change in the tech ecosystem.
The new fund will focus on investing in at least 25 early-stage companies, with check sizes ranging between $1 million and $2.3 million. Approximately 50% of the fund is reserved for follow-on investments, ensuring sustained support for portfolio companies as they scale. Zeal Capital Partners aims to target sectors such as fintech, health, and the future of learning and work.
Backers of Zeal Fund II include prominent institutions like Citi Impact Fund, M&T Bank, MassMutual, Wells Fargo, Zaffre Investments, and Spelman College. This diverse group of limited partners reflects strong confidence in Zeal’s mission to foster inclusive innovation and support underrepresented founders.
Founded by Nasir Qadree, Zeal Capital Partners has built a reputation for identifying and nurturing high-potential startups. The firm’s strategic focus on diversity and impact-driven investments continues to set it apart in the competitive venture capital landscape.
The close of this fund comes at a pivotal time as early-stage startups face increasing challenges in securing capital. Zeal Capital Partners’ commitment to providing both financial and strategic support could prove instrumental in helping emerging companies navigate these hurdles.
As Zeal Capital Partners deploys its latest fund, the industry will be watching closely to see which innovative startups emerge as the next big success stories. With a proven track record and a robust new fund, Zeal is well-positioned to make a lasting impact on the future of technology and entrepreneurship.
Alfred Lee
